BidMiamiDade auction selection page

BIDDING GROUP GUIDELINES AND AGREEMENT

PURPOSE

A Bidding Group allows an auction site user to manage purchases for more than one bidder.


GROUP STRUCTURE
  1. A Bidding Group consists of a Primary Bidder and one or more Affiliate Bidders.
  2. Each Primary and Affiliate Bidder must be added using a unique, valid Taxpayer Identification Number (TIN). The W-9 certification and signature is required for each bidder.
  3. In order to use a Bidding Group you must:
    1. Designate a Primary Bidder and at least one Affiliated Bidder on the LienHub Manage Bidders page.
    2. Confirm your participating bidders by clicking "Select a Bidder to participate" on the Auction Summary page and completing the confirmation step. Both of these actions must be completed at least 72 hours before the close of the first batch in any auction. After this deadline, bidders cannot be added to or removed from a Bidding Group.

DEPOSITS AND BUDGETS
  1. Miami-Dade County requires a minimum deposit of $5,000.00, or ten percent (10%) of intended purchases in excess of $50,000.00, whichever is greater, for each bidder included in a Bidding Group.
  2. When submitting a deposit, you will be prompted to submit at least the required minimum deposit.
    1. The minimum deposit allows a bidder purchases of no more than $50,000.00.
    2. If you intend to post a total dollar deposit amount in excess of the minimum, please note that deposits will be allocated evenly across the Bidders in a Bidding Group.
    3. If you intend to make purchases in excess of $50,000.00 per bidder, your deposit should be 10% of intended purchases per bidder.
  3. If your deposit is less than the required amount as of the deadline to modify your Bidding Group, only the number of bidders supported by your deposit will be used in this auction. This number will be calculated by dividing your total deposits by the Minimum Deposit Amount, and bidders selected for use will include your Primary Bidder and Affiliate Bidders selected in numerical order by Bidder Number.

BID SUBMISSION, RESULTS GENERATION AND PROXY BIDDING
  1. Bidding Group users submit bids for ALL members of the Group.
  2. Example:
    1. A user creates a Bidding Group with a Primary Bidder and nine Affiliate Bidders.
    2. The user submits a rate of 5.00% for a certificate on the Bid page. This action will result in the submission of 10 bids at 5.00%, one for each member of the Bidding Group.
    3. If 5.00% is the lowest rate submitted for the certificate at the time the batch containing that certificate closes, one of the ten bidders in the Group (chosen using a random number generator) will be awarded the certificate at 5.00%, as the Bids from the Group members tied one another.
    4. Bids from members of a Bidding Group are individual bids. Even in an auction where the bidding format is Proxy Bidding, these bids compete with one another for purposes of determining the winning bid.

BULK ACTIONS
  1. Uploading Bidders - in order to upload bidders:
    1. Go to Manage Bidders in LienHub.
    2. Click Upload Bidders.
    3. Enter shared information for bidders in the upload and click Next.
    4. If the bidders in the upload will be used in the Tax Certificate Auction, check the Yes box and click Next. If no, simply click Next.
    5. Click Download Template to create a new bidder upload file or click Browse to upload an existing file.
    6. Any bidders you add on the LienHub Manage Bidders page will only be used as part of your Bidding Group if you designate them as Primary or Affiliate Bidders.
    7. Changes to Bidding Groups will be disabled 72 hours before the close of the first batch in any auction. While you can continue to add or modify bidders on the Manage Bidders page in LienHub, these changes will not be reflected in the Bidding Group you use to participate in the auction if made after the deadline.
  2. Removing Bidders: Affiliate Bidders can be removed individually or through the use of bulk actions on the LienHub Manage Bidders page.
  3. Downloading Bidders: Bidders can be downloaded by clicking Download Bidders on the LienHub Manage Bidders page.
  4. Transferring Purchases: All certificates awarded to any Affiliate Bidders in a Bidding Group will be transferred to the Primary Bidder for each Group after the close of the last batch. Please note the following with regard to transfers:
    1. Certificate transfers are post-sale procedures; the results displayed on the web site at the close of the sale will not be changed to reflect transfers.
    2. All purchases by all Affiliate Bidders will be transferred to the Primary Bidder only; purchases can't be transferred to any other Affiliate Bidders, or multiple Affiliate Bidders.
    3. Bidding Group users who have Affiliate Bidders with awards will be required to pay a transfer fee of $2.25 per certificate in conjunction with their final payment for purchases in the sale. Certificates awarded to the Primary Bidder will not incur a transfer fee as no transfer is performed.

BIDDING GROUP AGREEMENT

If you are a member in a Bidding Group which was created on the Web Site, you agree to the following terms and conditions:

  • You agree and affirm that you are authorized to submit bids on behalf of the Primary Bidder and every Affiliate Bidder in the Bidding Group, and to bind the same.
  • You agree that any bids you submit as part of a Bidding Group will be your personal responsibility and the responsibility of the individual or entity on whose behalf you are submitting bids.
  • You agree that neither Tax Collector nor Grant Street Group (Grant Street) is responsible for any confusion, errors or omissions that occur as a result of your participation in a Bidding Group. Thus, you agree to hold Tax Collector and Grant Street harmless from and against any harm, financial or otherwise, that results from such confusion, errors or omissions.
  • You agree that when you create a Bidding Group and submit bids you are submitting the same bids for all members of the Bidding Group and the Group members compete with one another for the award of a Tax Certificate.
  • You agree that since your Affiliate Bidders are governed by your Budget, if you do not have a sufficient Budget available to be eligible for the award of a certificate, your Affiliate Bidders' bids will be disregarded.
  • You agree to accept all of the terms of participation in a Bidding Group as described above, and you accept full and sole responsibility for any confusion, errors or omissions that may result from your participation in a Bidding Group.

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